Using a sharp knife, cut the chicken into 1½-inch pieces (a little larger than your mini waffle). You should have about 25 pieces of chicken.
In a medium bowl, whisk the buttermilk with the hot sauce, 1 teaspoon of salt, and ½ teaspoon of pepper. Add the chicken, cover, and refrigerate for at least 1 hour and up to overnight.
Set a cooling rack inside a rimmed baking sheet. In a large bowl, season the flour with salt and pepper. Working with a few pieces of chicken at a time, remove the chicken from the buttermilk soak, letting the excess drip back into the bowl. Dredge the chicken in the flour mixture, pressing so it adheres all over. Transfer the coated chicken to the prepared rack and let stand for 30 minutes (this will help the breading stick).
In a large Dutch oven, heat 3 inches of oil to 350°F and set a cooling rack inside a separate rimmed baking sheet (or line with paper towels).
Fry the chicken in batches, taking care not to overcrowd the pot, and allowing the oil to return to temperature before adding the next batch. Fry for 3 to 5 minutes, or until the chicken is cooked through and the crust is crispy and golden brown. Transfer to the prepared baking sheet to drain.
In a large heatproof bowl, microwave the jam, plus 2 tablespoons of water for 1 to 2 minutes, or until it is smooth and pourable. Add the fried chicken and toss to coat.
Assemble your fried chicken and waffles by layering a mini waffle, a small piece of the bacon, a piece of fried chicken and finishing with a mini waffle. Secure with a toothpick and transfer to a plate. Serve right away with hot sauce on the side.